Boeing’s 737 Max is set to return to the skies as industry reels from the pandemic

The Boeing 737 Max is nearing clearance to fly again after a 20-month ban prompted by two fatal crashes that sent the company into a crisis, but the planes are returning to a different problem. The coronavirus pandemic has roiled airline finances around the world, hurting demand for new planes and helping to drive up cancellations and deferrals. “The Max isn’t coming into a situation where everything is fine now,” said Phil Seymour, president of London-based aviation consulting firm IBA Group. It’s been a bruising year for the company. In the first 10 months of 2020, Boeing lost 393 aircraft orders after factoring in new sales, cancellations and orders for planes that were converted to other aircraft. Chief rival Airbus won 308 net new orders for aircraft in that period, by comparison. Boeing has lost $3.45b this year through the end of September and analysts don’t expect it to get to positive free cash flow until the end of next year. Boeing executives, however, are eager to turn the page after the protracted crisis, and many investors appear to be, too. Boeing’s stock price has shot up more than 40% this month, fueled by optimism around the jets’ return and positive news from two vaccine trials. But the shares are still off more than 37% this year as the pandemic presents an added challenge to the plane maker.<br/>